November 8th, 2017

NDP to shed light on Paradise Papers

OTTAWA – In an effort to shed more light on the Paradise Papers and schemes that allow wealthy Canadians to avoid paying their fair share of taxes, the NDP is moving a motion to invite Stephen Bronfman, Revenue Chair for the Liberal Party of Canada; and Leo Kolber, former Senator and former chief fundraiser for the Liberal Party of Canada, to explain their actions to the Finance committee.

“In the days following the release of the Paradise Papers, there has been a lot of information circulating regarding the schemes involving these individuals,” said NDP Parliamentary Leader, Guy Caron. “The NDP wants to shed light on legislation and loopholes that allow people to avoid paying their fair share. By bringing these people in to testify, we hope to identify the problems in order to fix them.”

Canada’s tax code is riddled with loopholes that benefit Canada’s wealthiest, but leave most hard-working Canadians behind. The Liberal government is fueling this disparity by failing to fix these unfair loopholes, including the use of offshore tax havens, stock option deductions, and corporate tax giveaways. The Liberals campaigned on a promise of tax fairness, but have failed to take any action on massive tax giveaways that result in the loss of billions of dollars a year in foregone tax revenue.

“The Liberals don’t seem to get that this is about basic fairness. Hardworking Canadians contribute their fair share while wealthy insiders do not,” said NDP Leader, Jagmeet Singh. “Canadians want a government that tackles this kind of inequality head-on, not one that makes excuses for their wealthy friends.”